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Thursday, December 1, 2016

Texas Oil Field Has Huge Oil Potential, But Experts Say it Likely Won't Affect Ohio Production

From The Columbus Dispatch:

A vast swath of shale deep below western Texas could yield 20 billion barrels of oil, according to new estimates by the U.S. Geological Survey.

In addition to being the largest source of shale oil ever assessed by the agency, the Wolfcamp Shale geologic formation also contains an estimated 16 trillion cubic feet of natural gas and 1.6 billion barrels of natural-gas liquids, the agency said in a news release.

Still, experts say the discovery is unlikely to affect Ohio’s natural gas and petroleum production, or the region’s.

“It’s a huge resource, and that’s really great news for America,” said Penn State geoscience professor Terry Engelder. Wolfcamp could help assure U.S. independence from foreign oil, he said.